Mondigo, Jairus D.

XI – St. James

REFLECTION PAPER

At first I was skeptical, I did not know what was going on and I
felt bad because there were only few people working on it. But overall, I
think they or shall I say we, did a good job. I was able to understand the
basic principles of interest. There are two types of interest, the simple
interest and the compound interest. With the simple interest, Principle x
interest rate x n= interest is the formula. It has advantage over compound
interest due to the fact that the interest is low, so the money that’s going
to be paid in the end is low, and it’s comparable to compound interest.
Compound interest makes your money grow faster because the interest
is calculated on accumulated interest which I think is good. If we are
going to enter things, we must be knowledgeable at it. Like opening a
business, you must know the ins and outs and how things work before
you decide to be a businessman.

Through this seminar, I have got it in me that whenever I let

someone borrow money there should be an interest, and vice-versa.
While compound interest can make you lots of money, it is much more
complicated compared to the simple interest, and life shouldn’t be hard.

I can say that the seminar and zumba somehow changed my life.
With all the information I have, I now know how to use money wisely
and properly. Things won’t be as hard for me in the near future and even
now. And Zumba was quite amazing, it helped me stress out all the
problems that I had and is actually beneficial.